Kraken founder donates $1M to Donald Trump, calls him "the only pro-crypto major party candidate"

Key Takeaways

• Jesse Powell donates $1 million in Ethereum to support Trump's pro-crypto stance.
• He criticizes the Biden administration for harmful crypto regulations.

Jesse Powell, the co-founder of the crypto exchange Kraken, has contributed $1 million, mostly in Ethereum, to Donald Trump’s presidential campaign. According to Powell, Trump is the only major party candidate with a pro-crypto stance.

Powell also expressed frustration with the current regulatory environment for the crypto industry in the US. He believes figures like Elizabeth Warren and Gary Gensler have been attacking the crypto sector through stringent regulatory measures.

“Despite overwhelming bipartisan Congressional efforts to put clear rules in place, the Biden White House has stood by and allowed a campaign of unchecked regulation by enforcement,” Powell criticized the Biden administration, arguing that the approach is harming the US’s competitiveness in the global market for digital assets.

Powell’s latest support for Trump follows a similar act by Gemini founders Cameron and Tyler Winklevoss. Last week, the Winklevoss twins said they donated $1 million in Bitcoin each to Trump’s campaign.

Ark Invest CEO Cathie Wood is also among the major figures who recently voiced support for Trump. Wood said in a recent interview that she intended to vote for Trump , seeing him as the best candidate for the US economy.